Multi Commodity Exchange of India Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw revenue surge 121% YoY to INR 666 crore, with strong growth in bullion and base metals, and robust participation from new members and retail investors. Ongoing tech investments and risk controls support continued expansion amid rising competition and regulatory oversight.
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Q2 FY26 saw 29% revenue growth and 32% EBITDA growth year-over-year, driven by strong ADT and new product launches. Technology upgrades and product expansion continue, with increased domestic participation and ongoing regulatory review after a technical glitch.
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FY 2024-25 saw 59% income growth and record ADT, with strong gains in both futures and options. MCX maintained global leadership in commodity options, expanded its client base, and is poised for new product launches pending regulatory approval.
Fiscal Year 2025
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FY24-25 saw 59% income growth and record volumes, with MCX recognized as the world's largest commodity options exchange. Strong expansion in client base, robust options growth, and new product launches are expected, though future launches depend on regulatory approvals.
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Q3 FY25 saw 57% YoY revenue growth and a sharp PAT turnaround, driven by strong options and futures volumes, new product launches, and a 49% increase in traded clients. Management expects continued growth, with new index options and product innovations planned.
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Q2 FY25 delivered strong sequential and year-over-year growth in profit and revenue, driven by record trading volumes and expanding client participation. New product launches, cost rationalization, and a robust cash position support ongoing growth and innovation.
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Q1 FY25 saw a 27% sequential income rise, robust volume growth, and a 98% market share. New product launches and regulatory changes are underway, with continued strong client participation and proactive risk management through regular SGF contributions.